New York CNN Business — Investors sleuthing for clues about what the Federal Reserve will decide during its December policy meeting got quite a few this week. But those hints about the future of monetary policy point to an outcome they won’t be very happy about. What’s happening: Federal Reserve officials made a series of […]
Hong Kong CNN Business — Chinese authorities are making their biggest effort yet to end a crisis in the country’s vast real estate sector that has weighed heavily on the economy over the past year. Shares of China’s biggest property developer Country Garden soared as much as 52% in Hong Kong after Beijing on Friday […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — The third-quarter corporate earnings season is wrapping up: We now have reports from […]
Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — A little over a decade ago, the dominant narrative about the housing market was that Millennials simply weren’t buying. They were either too cheap, lazy, or […]
Editor’s Note: This is an updated version of a story that originally ran on September 22, 2022. The Federal Reserve raised its benchmark interest rate for the sixth time in a row on Wednesday, to a range of 3.75% to 4%. While there may be plenty of downside in the form of higher borrowing costs […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business — The US economy grew by a 2.6% adjusted annual rate in the third-quarter, […]
Hong Kong CNN Business — Even though China’s economy is beset by problems ranging from a real estate crisis to youth unemployment, Xi Jinping did not offer any grand ideas to set the country back on track during his two-hour opening speech at the Communist Party Congress on Sunday. The Chinese leader is expected to […]
After rising for six weeks in a row, mortgage rates retreated last week. The 30-year fixed-rate mortgage averaged 6.66% in the week ending October 5, down from 6.70% the week before, according to Freddie Mac. Mortgage rates have more than doubled since the start of this year as the Federal Reserve continues its unprecedented campaign […]
This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN Business — After tumbling to a record low against the dollar, the British pound stabilized Tuesday, rising more than 1% to $1.08. But the economic policy that sparked the currency’s historic nosedive […]
New home sales bounced back in August despite high prices and rising mortgage rates that have pushed some buyers away. Sales of newly constructed homes jumped 28.8% in August from July and were down just 0.1% from a year ago, according to a joint report from the US Department of Housing and Urban Development and […]
